Can Bitcoin ATM machines also use lightning networks? Anyway, this developer has done it.

Developer Felix Weis successfully executed the world's first ATM bitcoin transaction on the Lightning Network.

Weis publicly demonstrated on the Lightning Hackday in Hong Kong trading on a Bitcoin ATM via Lightning Network.


Subsequently, Weis stated:

This is just a proof of concept and can recharge your channel. Although there are many bugs, it works well in two different mobile wallets.

The cryptocurrency industry is increasingly interested in lightning networks because it requires very low bitcoin transaction fees while enabling near-instant transactions.

Due to the continuous development of the lightning network, the Weiss rating also raised the score of Bitcoin from "C-" to "B-". Although the ranking given by the Weis rating does not represent an authoritative certification, it does indicate that the impact of the Lightning Network on the Bitcoin world is positive.

The Weiss rating describes four factors in its evaluation of the cryptocurrency market report entitled “The Bright Future with Shadows”: penetration, technology, risk and rewards. It emphasizes the impact of the arrival of the lightning network.

With the arrival of the lightning network, Bitcoin has been upgraded and become the most popular value-preserving tool for investors.

The Lightning Network is a decentralized system where participants can deploy a trusted micropayment channel to conduct one or more transactions under the chain.

These channels are outside the Bitcoin blockchain, and transactions between channels are packaged into a transaction broadcast to the blockchain after they are fully completed. This process then means that the payment channel will be closed and the transaction is written to the blockchain.

Therefore, regardless of how many transactions are between the channels, you need to access the Bitcoin blockchain twice, when the channel is open and closed.

The number of lightning network nodes is growing. As of press time, the number of lightning network nodes was 7,757, the number of channels was 39,147, and the network capacity reached 1068.76 BTC, all showing rapid growth.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


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